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Growth and sustainability in the South West food and drink sector
13th November 2023
Bishop Fleming's Head of Food & Drink, Fleur Lewis, celebrates the great connections being made between business leaders to help ensure the South West has a thriving Food & Drink sector.
Connection is not only important for our emotional well-being but also for our physical and mental health.
So it was wonderful to have the opportunity to connect with and be amongst such a fantastic group of business leaders in the first annual South West Food & Drink conference on "Fostering Growth and Sustainability in our Region" together with our partners Trowers & Hamlins and Taste of the West.
Taste of the West is the largest independent regional food group in the UK, and as announced back in June 2023, entered into an 18-month partnership with law firm Trowers & Hamlins and Bishop Fleming to help raise the profile of the thriving South West food and drink sector.
The group and indeed the conference bring together a wealth of knowledge, expertise and experience in this important sector for the South West economy.
The speakers were hugely insightful as they discussed the challenges arising over the past year, and how to remain positive with the opportunities that the current climate presents.
Key takeaways from our audience:
- 64% of attendees felt trade had improved so far in 2023 compared to the prior year;
- Economic environment was very challenging with cost prices pressures, packaging taxes/compliance and cashflow and confidence taking a hit;
- Key opportunities identified for the sector included exporting, development of premium quality brands and diversification;
- Top 3 priorities for 2024 were (1) Facilities & Operations, (2) Financial sustainability and (3) Human Resources and skills;
- Over 54% of our attendees saying that they were anticipating an improved trading environment for 2024.
Find out more
If you would like to know more, contact a member of our food and drink team, or your usual Bishop Fleming advisor. Discover our Food & Drink accounting services.
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